Blackstone Inc. (NYSE:BX) Stake Raised by Roof Eidam Maycock Peralta LLC

Key Points

• Roof Eidam Maycock Peralta LLC increased its holdings in Blackstone Inc. by 97.1%, totaling $789,000 after acquiring an additional 2,781 shares in the first quarter.
• Blackstone reported a quarterly EPS of $1.21, exceeding estimates, with revenue of $3.07 billion, reflecting a year-over-year growth of 32.7%.
• The company has declared a quarterly dividend of $1.03, marking an increase from the previous dividend of $0.93, resulting in an annual yield of 2.4%.

Roof Eidam Maycock Peralta LLC raised its position in Blackstone Inc. (NYSE:BX - Free Report) by 97.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,646 shares of the asset manager's stock after purchasing an additional 2,781 shares during the quarter. Roof Eidam Maycock Peralta LLC's holdings in Blackstone were worth $789,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. von Borstel & Associates Inc. purchased a new stake in shares of Blackstone during the 1st quarter valued at about $28,000. Bernard Wealth Management Corp. acquired a new stake in Blackstone in the fourth quarter valued at approximately $34,000. Putney Financial Group LLC acquired a new position in shares of Blackstone during the fourth quarter worth $34,000. Vision Financial Markets LLC acquired a new stake in Blackstone during the 1st quarter valued at $35,000. Finally, Garde Capital Inc. purchased a new stake in Blackstone during the 1st quarter worth $36,000. Hedge funds and other institutional investors own 70.00% of the company's stock.

Insiders Place Their Bets

In related news, Director Joseph Baratta sold 100,000 shares of Blackstone stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $167.36, for a total transaction of $16,736,000.00. Following the sale, the director directly owned 808,757 shares in the company, valued at $135,353,571.52. The trade was a 11.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Holdings I. L.P. Blackstone bought 1,189,532 shares of the firm's stock in a transaction that occurred on Friday, July 18th. The stock was bought at an average price of $25.22 per share, with a total value of $29,999,997.04. Following the transaction, the insider directly owned 4,178,771 shares in the company, valued at $105,388,604.62. This represents a 39.79% increase in their ownership of the stock. The disclosure for this purchase can be found here. 1.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on BX. Keefe, Bruyette & Woods lifted their target price on Blackstone from $168.00 to $180.00 and gave the stock a "market perform" rating in a research report on Friday, July 25th. Evercore ISI upped their target price on Blackstone from $165.00 to $197.00 and gave the company an "outperform" rating in a research report on Friday, July 25th. Cowen restated a "buy" rating on shares of Blackstone in a research note on Monday, April 21st. Morgan Stanley reduced their price objective on shares of Blackstone from $222.00 to $150.00 and set an "overweight" rating on the stock in a research note on Monday, April 14th. Finally, Citigroup restated a "market perform" rating on shares of Blackstone in a research note on Saturday, July 19th. Ten research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat, Blackstone presently has a consensus rating of "Hold" and an average price target of $170.12.

Blackstone Stock Performance

Shares of NYSE BX traded up $1.29 during mid-day trading on Friday, hitting $168.93. The company had a trading volume of 2,278,720 shares, compared to its average volume of 3,909,915. The stock has a market cap of $123.26 billion, a price-to-earnings ratio of 45.41, a PEG ratio of 1.37 and a beta of 1.71. The firm's 50 day simple moving average is $155.60 and its two-hundred day simple moving average is $150.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 0.74 and a quick ratio of 0.75. Blackstone Inc. has a 12 month low of $115.66 and a 12 month high of $200.96.

Blackstone (NYSE:BX - Get Free Report) last released its quarterly earnings data on Thursday, July 24th. The asset manager reported $1.21 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.11. The business had revenue of $3.07 billion for the quarter, compared to analysts' expectations of $2.77 billion. Blackstone had a net margin of 20.83% and a return on equity of 20.47%. The company's revenue for the quarter was up 32.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.98 EPS. As a group, equities research analysts forecast that Blackstone Inc. will post 5.87 earnings per share for the current year.

Blackstone Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, August 11th. Shareholders of record on Monday, August 4th will be given a dividend of $1.03 per share. This is a boost from Blackstone's previous quarterly dividend of $0.93. The ex-dividend date is Monday, August 4th. This represents a $4.12 dividend on an annualized basis and a yield of 2.4%. Blackstone's payout ratio is presently 110.75%.

Blackstone Profile

Blackstone Inc is an alternative asset management firm specializing in real estate, private equity, hedge fund solutions, credit, secondary funds of funds, public debt and equity and multi-asset class strategies. The firm typically invests in early-stage companies. It also provide capital markets services.